2024-02-13 08:52:54
EIB Global, the financial arm of the European Investment Bank (EIB) for activities outside the European Union, is investing €1.2 billion in the Western Balkans in 2023, €365 million more than in 2022, reported BTA the Montenegrin agency MINA, referring to a press release of the EIB.
The investments are in sustainable and energy transition projects that support the region’s EU accession efforts, the economy, climate and connectivity, the press release said.
EIB Vice-President in charge of the region, Kyriakos Kakouris, said the funds supported projects under the Economic and Investment Plan and the Global Gateway initiative, strategic EU instruments to overcome existing infrastructure gaps and improve living standards.
“In close cooperation with the European Commission, we are pleased to provide an impressive €475 million in grants under the Western Balkans Investment Framework and the EIB’s Economic Resilience Initiative,” Kakouris said.
At the COP28 climate change conference, EIB Global presented its new approach to scale up financing and advisory services worldwide to support a just transition and equitable sustainability. For its initial just transition activities, the focus will be on Bosnia and Herzegovina, Kosovo, Montenegro, the Republic of North Macedonia and Serbia.
To date, EIB Group has invested over 6 billion euros in the private sector of the Western Balkans.